IMF to give $50 billion to combat coronavirus

The International Monetary Fund (IMF) has announced that it will provide 50 billion dollars through its rapid-disbursing emergency financing facilities. The fund is to be given for low income and developing countries to combat the spread of coronavirus.

10 billion dollars of the fund is available at zero interest for the poorest members under the rapid credit facility. Recently, the World Bank and the United Nations announced financial assistance of USD 12 billion and USD 15 million respectively.